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Fuel and Oil

December 1 marked a major milestone for the nation's transition to ultra-low sulfur diesel fuel -- all on-highway diesel fuel now complies with the landmark 15 parts-per-million sulfur standard. This represents a 97 percent reduction in sulfur content from 2006 levels

The U.S. Department of Energy has raised its oil and diesel price forecasts. The DOE's Energy Information Administration expects the price of West Texas Intermediate crude oil to average about $83 per barrel this winter

The International Energy Agency predicts that global demand for energy could lead to another oil price spike, unless more is done to use energy more efficiently. The IEA report predicts oil prices will average $113 a barrel (in year-2009 dollars) by 2035 and could go as high as $135 a barrel

Crude oil prices hit a six-month high Tuesday, as the value of the dollar dropped against major currencies and there was widespread expectation that the Federal Reserve will announce new measures to stimulate the economy

Innovation and strong partnerships are crucial to meet rising global energy demand at a time when there is growing pressure to lower carbon emissions to combat the risks of climate change, Andy Swiger, senior vice president of Exxon Mobil Corp

With the United States moving to implement stronger environmental and fuel economy standards and expand the use of renewable fuels, clean diesel fuel is "poised to take on an even greater role in the U.S. transportation market," according to a newly-released Hart Energy Consulting report

Diesel prices are likely to go up 10 to 15 cents a gallon next year over this year, said Tancred Lidderdale of the U.S. Energy Information Administration. Lidderdale heads the EIA's analytical team that produces the monthly fuel price forecast that is a key data point for trucking industry planners. He discussed diesel supply and demand at an Oil Price Information Service conference in Atlanta earlier this week